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Unsecured and Secured Loans

The most common form of business finance, loans are often the first thing a business owner thinks
of. Small business loans can range in size from £5,000 up to £1,000,000 with repayment terms from
a few months to as long as 7 years. Loans are typically recommended when a business needs to
finance a large one-off cost or high growth period.

Unsecured loans are the most common. Although tangible security (such as a debenture or charge on a property) is not required, they do often require a personal guarantee.

Secured loans are typically secured against a property (residential or commercial). The benefit of offering security is that you can typically secure a better rate over an extended period of time. However, your property may be at risk if you do not keep up with repayments.

FAQ

Typically, a loan can be used for any business purpose including working capital, purchasing new equipment, or establishing a new business.

We will need our engagement letter and proposal from completing and then 6 months bank statements and a copy of your most recent accounts. If you are looking for a startup loan, then we will need a copy of your business plan.

We work with a large panel of independent lenders who exist to service the small business community. Their requirements are different to the banks, and they are often able to lend to businesses when the banks cannot.

Funding may still be available. The challenge is to find the right funder that not only meets for requirements whilst having the appetite to lend to you. These lenders are out there; however, you may find you have to pay a higher rate.

Try to make your business ready. Make sure you do not have any outstanding CCJs. If you cannot clear them, your lender may insist that you use some of their funds to clear the CCJ. Try to make sure your personal credit is in good shape too. You may need to provide forecasts or management accounts so speak to your accountant and find out how long these will take.

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£161,000, selective invoice finance building contractor, smooth out periodic cash flow issues. £7,500, unsecured loan building contractor, equipment purchase. £90,000, asset finance civil engineer, finance for fleet of vans. £240,000, secured loan equestrianism, debt refinance. £50,000 unsecured loan for improved cash flow, with no early repayment charges and £20,000 flexible draw down facility £250,000 Factoring facility - plastics manufacturer. Facility moved from unsupportive lender to new one to support growth.